Li-Cycle price target lowered to $8 from $10 at TD Cowen

TD Cowen analyst Jeffrey Osborne lowered the firm’s price target on Li-Cycle to $8 from $10 and keeps an Outperform rating on the shares. The analyst said November and Decmber black mass production was at the high of guidance as the company switched to a December fiscal year end. 2023 black mass production guide was below expectations due in part to feedstock supply.